Welcome to the RIA Marketing podcast! Nolan’s topic today is RIA lead magnets. Does your firm’s site have one? More importantly, does it convert leads into prospects by the ton? From the design phase to CRM integration, we’re surveying the steps to crafting a winner.

RIA lead magnets 101

 

For those who don’t know, let’s define what a “lead magnet” is. You might say it’s the digital equivalent of a free fridge magnet for clients.

It can be an initial consultation sign-up, a one-page FAQ, or a retirement calculator, just to name a few possibilities. Think of a niche-appealing prize you’ve put behind a gate.

To open that gate, visitorstypically have to fill out a form, giving you their name and contact information. As a result, in exchange for the prize, they register themselves as a lead; a possible prospect to-be.

However, the game doesn’t end with this transfer. As a financial advisor, the stronger your lead magnet, the better your chances of making a connection. In other words, never use something canned from a 3^rd party.

Instead, make something that specifically addresses the pain points of your niche. It doesn’t have to be up-to-the-minute topical. Nevertheless, you must speak their language. If it sets you apart from other RIAs as well, you’re onto something.

Show Them Your Good Side

 

Consider creating a video email series as your lead magnet. The topic is up to you, but you might pitch it as “exclusive” content.

Plan to keep it to around 3-5 episodes. Each video must deliver massive value, so less is more. Services like BombBomb can make the distribution easy.

If you’re wondering why we suggest a video email series, there are 3 reasons:

1. There’s no better way to introduce your RIA team. Better yet, you’ll do it while building rapport with your prospect. Take the opportunity to introduce each of your advisors or staff as they deliver a portion of an episode.
2. The format is more easily digested than dry text. Walking someone through your lead magnet in a video will help them better grasp your advice. That’s a value-add, from square one.
3. It creates a better, almost instant Videos let prospects get a sense of who you are and how you communicate. Think E-Harmony for advising. Additionally, it’s an opportunity to do something not many other advisors are.

Start at Your Own Pace

 

If you’re not set up to make professional videos right now, that’s okay. BombBomb will wait.

Instead, start an email series. The engagement or connection won’t be as good, but baby steps are better than standing still.

Apply the same focus on pain points to wooing your niche from print. You can manage prospects’ information and your email series (lead magnet) with MailChimp. This allows you to send out mass unique emails.

By “mass unique emails,” we mean messages that are addressed to individuals but contain the same overall text. So, if you create a PDF for your lead magnet, you just have to attach it to a MailChimp email.

Quick Wins

 

• Work with your team to develop a lead magnet together. Plan 3 or so engaging, super-focused emails. Video emails will work best, but go with what you’ve got. You can use our lead magnet design services free for a limited time: Download our lead magnet template at com/tools.
• Sign up for MailChimp or ConvertKit (if you don’t have a means of capturing prospects’ information from your website yet). Then, use Zapier or the organic connection to update your CRM with it.
• Leave us a 5-star review wherever you listen to your podcasts (please). If you found value in today’s episode, we’d appreciate it. Our goal is to help as many RIAs as possible develop better marketing strategies.

Nolan shares more on crafting a successful RIA lead magnet in this edition of the RIA Marketing podcast. Feedback, suggestions, and questions to pullmyfinger@graylinemedia.com are always welcome.

Last but not least, thank you for listening!

Transcript

WELCOME TO ANOTHER EPISODE OF THE RIA MARKETING PODCAST. I’M YOUR CHIEF MARKETING OFFICER AND HOST, NOLAN MARTIN. Today, I want to talk to you about how to implement a lead magnet that will actually convert leads into prospects. First, we’ll go through the design. Then, we will discuss managing the contact forms on your RIAs website—and how you can integrate this with your CRM.

If you don’t know by now, I’m a huge advocate of lead magnets on financial advisor websites. I believe it’s a crucial first step in building that relationship with your audience and working to convert your leads into prospects. You’re only afforded one opportunity to WOW! your lead.

For many RIAs, this is that make-or-break moment; the time when a visitor decides if they want to continue listening to you or find another resource.

If a lead reaches out, there is a level of trust they are giving you. Giving you their name and email can actually be a vulnerable situation for people in today’s digital world.

I still can’t get the spam and unsolicited phone calls to stop. So, when your audience signs up for your lead magnet, they enter the agreement with some hesitation. However, they’re at least willing to hear what you have to say.

So, you’d better deliver on your end of the bargain: Offer them real value.

When I say this, I’m assuming you’re addressing your ideal client. You simply can’t offer real value to everyone. If you lack this focus, you can miss your niche, entirely. You also risk violating your end of the bargain.

To make sure we’re all on the same page, let’s backtrack just a little: A lead magnet is how you capture website visitors’ contact information and convert them into prospects. It can take the form of many different offers. This can be an initial consultation sign-up, a one-page outline of frequently asked questions, or a specific way you address a particular issue, just to name a few.

So, how do you make a successful financial advisor lead magnet?

If I were providing advice to my RIA client, I’d tell them that they need to consider creating a video email series for theirs. Ideally, I’d want to keep it around 3-5 video emails because every video needs to deliver a ton of value.

We personally use BombBomb, a video email service, to send all of our video emails. Not only is this a great tool to communicate with your current clients, it drastically increases the open rates for your newly acquired prospects.

Let’s take a look at the advantages of using video emails for financial advisors.

#1- I can’t think of a better way to introduce your RIA team—while building rapport with your prospect. Don’t just have a team page on your website. Take the opportunity to introduce each of your advisors or staff as they deliver a portion of your lead magnet.

#2- The information is easier to digest. There’s a reason individuals are willing to pay you thousands of dollars to help guide them through managing their money. Finances are complicated. So, being able to walk someone through your lead magnet with a video will help them better grasp your advice. This is always better than hoping they understand it in your text.

#3- Think E-Harmony for Advisors: You have the opportunity to do something not many other advisors are doing. You can create a better connection. Let your prospects get a sense of who you are and how you communicate. If present yourself well, these things can intrigue them into a long-term professional relationship.

If you aren’t necessarily set up to make professional videos, I wouldn’t jump into BombBomb quite yet. It’s okay to start out with an email series that accomplishes the same task, even if the engagement or connection is not as great.

Also, when we recorded this, BombBomb did not have a way to create a journey; an automated email series, for all of your new prospects. However, if you have some computer skills or know a web developer, you can use Zapier to make the connection between MailChimp and BombBomb.

To manage a prospect’s information and the email series for a lead magnet, we use MailChimp. They will assist the journey of your prospect and allow you to send out mass unique emails.

When I say mass unique emails, I mean they’ll be addressed to that individual, but the overall text remains the same. So, if you create a PDF for your lead magnet, then you’d just attach it to the MailChimp email.

Because I believe in the power of the lead magnet, I’m currently offering our graphic design team to professionally create a PDF for yours, absolutely free. We have a template on our website at graylinemedia.com/tools. You can submit it, along with your logo—and we’ll take it from there.

The next great thing about your lead magnet is that you can “push” all of the data from MailChimp to your CRM. Some CRMs will integrate with MailChimp directly, so it’s easy to configure both programs to communicate. However, if they don’t organically integrate, you can use Zapier to automate these processes.

So, in a perfect world, the process looks like this: Your lead finds your website on Google. They see a kick-ass lead magnet—and then decide that it’s worth the risk of being spammed for the rest of eternity to see if you can really provide the value that they’re looking for.

Bam! Their information goes to MailChimp… and now you have their name and email address.

Ping: they get an email from your RIA—and inside of that email is a video of you and/or your team walking them through all of your valuable insights.

Eventually, they decide that they want your help. In time, without hesitation, they sign up for an initial consultation because you have repeatedly demonstrated the value you can provide them.

And it all started with your lead magnet.

Okay, let’s transition to the quick wins you can implement for converting more leads into prospects.

Quick Win #1- Take some time with your team and develop your lead magnet. In 3 or so emails, how are you going to WOW your ideal future client? If you can do this with video emails, great. If you want to use our lead magnet design services, which are free for a limited time, you can download our lead magnet template at graylinemedia.com/tools.

Quick Win #2- Sign up for MailChimp or ConvertKit if you don’t have a current method of capturing prospects’ information from your website. Then, use Zapier or the organic connection to update your CRM with it.

Quick Win #3- If you found value in today’s episode, would you do me a favor? I’d appreciate a rating over at Apple Podcasts or wherever you listen from. My goal is to help as many RIAs as I possibly can with better marketing strategies.

I’m Nolan Martin and this is the RIA Marketing Podcast. We at Gray Line Media thank you for listening to our podcast.

Please remember: We’re determined to help RIAs connect with their Superfans and Ideal Future Clients through remarkable websites and relatable content. My only question is, will it be your RIA?